Hybridan Small Cap Feast - 11September 2024

11th September 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Bivictrix Therapeutics (BVX.L) has delisted from AIM What’s baking in the oven? Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”. Hybridan Chef

Hybridan Small Cap Feast - 9 August 24

9th August 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Global Ports Holding Plc (GPH.L) has delisted from the standard listing segment of the main market. GRC International Group (GRC.L) has delisted from the AIM market Univision Engineering Limited (UVEL.L) has delisted from the AIM mark

Hybridan Small Cap Feast - 25 April 2024

25th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: Smart Metering Systems (SMS.L) has delisted from the AIM market What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar

Hybridan Small Cap Feast - 23 Nov 23

23rd November 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obj

Hybridan Small Cap Feast 10/07/23

Joiners: No joiners today. Leavers: Xpediator Plc has left AIM. What’s cooking in the IPO kitchen?** Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Expected Admission 21 July 2023. Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in t

Hybridan Small Cap Feast 24/11/2022

Dish of the day Joiners: One Health Group plc (AQSE: OHGR), joins the Apex segment of the AQSE Growth Market. The group provides medical services, in the form of elective surgical care, to support the NHS in the management of patients, through a growing network of community-based outreach clinics and independent hospitals. Market Cap on admission £15.05m. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Kistos Holdings plc, intends to join AIM. The Company was incorporated to act

Hybridan Small Cap Feast 15-09-2021

Joiners No joiners today. Leavers No leavers today. What’s cooking in the IPO kitchen? Peel Hunt, a UK mid and small-cap specialist investment bank, announces its intention to seek admission of its ordinary shares to trading on AIM. Admission is expected to take place on or around 29 September. In conjunction with a placing of Ordinary Shares the Company will be conducting an intermediaries offer. Oxford Nanopore Tech—expected intention to float on the LSE (Standard). The company behind a

Small Cap Feast

Kropz, an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana, is looking to join AIM. Offer TBC, expected late Nov Titon holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seek

Small Cap Breakfast

GYG—Intention to float by the superyacht painting, supply and maintenance company. Due 5 July. Raising £6.9m new plus vendor sale of £21.5m at 100p. Mkt Cap c. £47m. Revenue of €54.6m in FY16 and adjusted EBITDA of €6.7m. | Greencoat Renewables - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland. Offer TBC. Due Mid July. | FFI Holdings— Specialist in the provision of completion contracts to the enterta

Small Cap Breakfast

Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management Eco (Atlantic) Oil & Gas—Schedule One Update. Now expects admission ‘early February’. Ramsdens Holdings –Schedule One from the financial services provider and retailer, operating in the core business segments of foreign currency exchange, pawnbroking loans, precious metals buying

Small Cap Breakfast

Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA

AIM Breakfast

CITYFIBRE INFRASTRUCTURE HLDGS PLC (CFHL LN) | CORETX HLDGS PLC (COR LN), HORNBY PLC (HRN LN) | HURRICANE ENERGY PLC (HUR LN) | MINOAN GROUP (MIN LN) | RANDALL & QUILTER INVT HLDGS LTD (RQIH LN) | RICHOUX GROUP PLC (RIC LN) | YOLO LEISURE & TECHNOLOGY PLC (YOLO LN)

What we do in life Eckoh's in eternity, Avanti reaches for the sky, Platform change for Hornby, Mariana glitters

AVN Financing, BLU Timeline and Results, ECK Contract Wins, FITB Placing, Subscription and Convertible Loan Note, HRN Admission to AIM, MARL Estimate, MMH Interim Results, MXO Mexico Update, NET Contract Win, PLI Q2 Results and Highlights, SVR Contract Win, TRCS Trading Update, UNG Launch, VENN Trading Update

AFC Energy (AFC LN) - Unlocking value from AFC’s ammonia cracker technology

AFC Energy has announced the launch of Hyamtec Limited (“Hyamtec”), a wholly owned subsidiary established to commercialise the Group’s next-generation distributed ammonia cracking business. The aim of this technology is to support low-cost, scalable, and on-demand hydrogen production for industrial and mobile applications. As a subsidiary of AFC, Hyamtec will have increased flexibility in seeking funding for its growth and offer investors more focused exposure to this cracker technology. We beli

Tandem Group - Interim results

Trading conditions remained challenging for Tandem in H1/24, with ongoing macroeconomic headwinds, elevated freight costs and a shift in retailers’ buying habits all having an impact on the business. Nevertheless, Tandem was able to deliver a robust performance, maintaining flat revenue YoY, with an improved margin that helped narrow the adj. EBITDA loss to £0.2m (H1/23A: £0.7m loss). Tandem’s results tend to be H2 weighted (H1/H2 revenue split of 45/55% over recent years), given the importance

Morning Note – 19 September 2024

Zeus Industrials Round-Up - 13 September 2024

The UK industrial sector continues to show promising signs of recovery, with manufacturing PMI reaching a 26-month high of 52.5 in August as all survey indicators but one expanded. Economic data has also been encouraging, with UK pay growth cooling to a two-year low and inflation rising only slightly in July – supporting the case for further interest rate cuts this year by the BoE.

PANMURE LIBERUM: Science in Sport: All on track - prospects of upgrades building

Portmeirion + (PMP, House Stock at 223p) - Still on track for FY24F

Returning to double digit growth from FY25

Gleeson has delivered a robust FY24 outturn, with adj. PBT of £24.8m (FY23: £31.5m, SCMe: £24.1m). Gleeson Homes delivered a resilient performance whilst Gleeson Land was impacted by planning delays. Looking ahead, demand is expected to strengthen as interest rates continue to reduce, with reservation rates improving to 0.50 in the past 10 weeks (FY24: 0.44, FY23: 0.38). Continued progress in Partnerships (two agreements to date) and a strong pipeline in Gleeson Land enhances this. We forecast a

Self-help & core markets resilience in H1; FY PBT expectations held

H1-24 results as anticipated are weak. We make 5 key points: (1) Tough trading in South Korea masks a resilient performance in the dominant North America / UK territories (+5% cc). (2) South Korea trading has stabilised in Q3 which is sentiment positive. (3) Pro-active cost cutting action bodes well once market conditions improve. (4) Whilst the broad trading environment continues to have challenges, there is no change to FY expectations. (5) The interim DPS has been lowered, but this reflects a

Surface Transforms (SCE): Pre-close trading, AGM and prospects

SCE is delivering its £390m order book but still faces headwinds. It is knocking down the obstacles, giving detailed explanation of progress, and, indeed, output has been consistently good since late June. Clearly, this is not as early as hoped. We maintain our 2024E sales, but we have reduced several forward profit estimates. This means that we now estimate a £2m gross cash outflow for 2H24, with a stable 2025, and rising 2H25 and thereafter. Significantly, from here, there are now duplicated p

PANMURE LIBERUM: CEO Video: Jonny Watts, Frontier Developments:

Hybridan Small Cap Feast - 16 September 2024

16th September 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Vector Capital (VCAP.L) has delisted from AIM What’s baking in the oven? Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”. Hybridan Chefs resea

Hybridan Small Cap Feast - 17 September 2024

17th September 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour *New product launch* In addition to our Small Cap Feast, which will continue to bring you the latest IPO news and stories across the small cap universe, we will shortly be launching “Friday Takeaway”. This will delve a little deeper on individual companies and focus on non-h

Spectra Systems (SPSY LN) - Sensor contract drives double-digit upgrades

Today’s announcement from SPSY confirming a major new contract with a significant existing central banking customer (partly anticipated in our forecasts) provides further affirmation of the company’s strong technology and close relationships with globally prominent clients. While foreshadowed in earlier announcements, the sensor contract is, however, expected to be considerably more profitable in its totality than previously anticipated. SPSY is an established world leader in providing security

Morning Note – 10 September 2024

PROGRESSIVE: Sanderson Design Group: Stronger July trading to end H1, driven by North America

Sanderson Design Group (SDG) has announced encouragingly stronger trading in July to complete its H1 performance to 31 July. This has been driven by continued strength in Brand product sales in North America, though the UK market remains challenging, which also impacts on repeat orders within Manufacturing. While Licensing revenues were down on H1 last year, they are in line with group expectations, with the FY25E full-year outturn expected to be similar to last year. The group has made progress